German utility Uniper SE has signed liquefied natural gas (LNG) sale and purchase agreements (SPAs) with Woodside Energy Group Ltd. In a media release, Uniper said Woodside will deliver 1 million tonnes per annum (MMtpa) from Louisiana LNG LLC and 1 MMtpa from its global portfolio.
Uniper noted that the 2 MMtpa would cover approximately 3 percent of German total gas consumption in 2024.
“This deal will support our security of supply and flexible generation strategy together with the potential development of additional gas-fired power plants in Germany to complement the renewable build-up”, Michael Lewis, CEO of Uniper, said.
“With this new project in Louisiana, we are further extending the cooperation with Woodside. Long-term LNG contracts like this contribute directly to the competitiveness of European industry”, Lewis said.
Woodside CEO Meg O’Neill said these agreements bring Louisiana LNG closer to a final investment decision. “Louisiana LNG is Woodside’s largest growth project”, O’Neill said. “The addition of Atlantic Basin LNG supply to our established position in the Pacific strengthens Woodside’s portfolio and allows us to tailor contract structures based on various price indices and tenures to better meet our customers’ diverse needs”, she said.
Under the deals, Louisiana LNG will supply 1 MMtpa of LNG on a free-on-board basis for up to thirteen years from the commercial operations date (COD) of Louisiana LNG. In addition, Woodside Energy Trading Singapore Pty. Ltd. will supply up to 1 MMtpa of LNG on a delivered ex-ship basis from Woodside’s global portfolio commencing with Louisiana LNG’s COD through 2039, Uniper said.
Both agreements are subject to Woodside reaching a final investment decision on the 16.5 MMtpa Louisiana LNG project.
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